After passage of the Bipartisan Budget Act of 2015 many advisors have asked us how do the changes in the new law affect the future of advisors who offer advice on Social Security claiming strategies. We’ve been asked repeatedly if these changes represent “the end of Social Security claiming advice?” Our answer is a resounding “no!” In fact, we look at these changes as a marketing opportunity for advisors, especially for those of you who have decided to make Social Security timing decisions a centerpiece of your financial practice.
As the media scrambled to understand the complicated rule changes to Social Security, The Wall Street Journals’ Anne Tergesen reached out to Social Security Timing’s founder, Joe Elsasser, to explain the impact on married couples. Read more.
Social Security Timing® updated its software as the budget deal was being finalized, so that you were able to give up-to-date information to clients as soon as the law went into effect Nov. 2. We continue to modify the software to make it the best in the industry. Many of these recent updates are the direct result of subscriber suggestions. Review those initial updates here, and be sure to read below, for additional updates made since then.
Learn how the Bipartisan Budget Act of 2015 impacts your clients. In this webinar, Joe Elsasser, creator of Social Security Timing®, discusses how the budget deal dramatically changes two claiming strategies, who is impacted and how you should communicate these changes to your existing client base.
When news broke that the Bipartisan Budget Act of 2015 included surprise changes to Social Security, The Wall Street Journal featured Social Security Timing® as one of the first companies to update its software to accommodate the new law. Read more.
The proposed 2016 budget makes two highly significant changes to Social Security claiming rules. Section 831(a) eliminates the restricted application strategy by requiring that anyone who files for any benefit be “deemed” as though they are filing for all benefits for which they are eligible. Section 831(b) modifies voluntary suspension by requiring that any benefits for any auxiliary be stopped when the primary wage earner suspends his own benefit. Under prior rules, a voluntary suspension only stopped the checks of the person who suspended their benefits, while auxiliaries such as spouses and children could continue to collect their checks.